Question : Investment fluctuating reserve will be transferred to ----------------account at the time of dissolution.
Option 1: cash account
Option 2: partner's capital account
Option 3: investment account
Option 4: partner's loan account.
Correct Answer: partner's capital account
Solution : Answer = partner's capital account Investment fluctuating reserve will be transferred(credited) to the realisation account. If their corresponding assets are not given in the question, they should be credited to the partner's capital account. Hence, the correct option is 2.
Question : On firm dissolution, which one of the following accounts should be prepared at the last?
Question : At the time of dissolution partner's loan (cr balance ) account is transferred to:
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